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Personal and Business Banking

Member Described Account

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Member described savings account

Member Described Savings Account

  • Savings account with your own custom name
  • Competitive dividend rates
  • $0 to open and $100 minimum balance to earn dividends
  • Free online, mobile, and branch access
  • Federally insured by NCUA

Please refer to Details and Rates tabs for additional information and important disclosures.


Open quote DCU's customer service is excellent. They offer excellent products and at very affordable prices. Close quote

— KK, Riverside, RI

Member Described Savings Account Details

  • You choose the name of your saving account – You can set up multiple accounts and give them names to help you identify what each is for. The names will appear on your DCU account statements and in Online Banking so you can easily organize your savings goals. You might name one Vacation for that upcoming trip of a lifetime or Wheels for the down payment on your next new car.
  • Competitive dividend rates – Compare DCU's Member-Described Account to bank statement savings accounts. Your dividends are compounded daily and paid monthly each day your balance is $100.00 or more.
  • $0 to open and $100 minimum balance to earn dividends – There are no monthly fees.
  • Free online, mobile, and branch access – You can access your account 24 hours a day using any DCU ATM, Online Banking, and Easy Touch Telephone Teller. You can access your account in any DCU branch and make deposits online anytime with a scanner or camera in your smart phone by Online Deposit.
  • Federally insured by NCUALearn more about insurance on all your savings at DCU and how to maximize your coverage.

*Federal Reserve Regulation D limits total phone or Online Banking transfers or withdrawals from all savings accounts into your checking account to six per month. Loan payment transfers, teller counter transactions, ATM transactions, deposits, and transfers into your account are unlimited.

Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from day of deposit to day of withdrawal, compounded daily and paid monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on this account. Refer to DCU's Truth-In-Savings Disclosure and Account Agreements and Schedule of Fees and Service Charges.

Please refer to Features and Rates tabs for more information.

Member Described Savings Accounts*

Minimum/Terms Dividend Rate Annual Percentage Yield
Earned on entire balance when $100 or more 0.25% 0.25%

Rates are effective .

*Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on these accounts. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges

Annual Percentage Yield (APY) is a figure calculated using a federally-mandated formula. It's designed to help you compare the return you'll get in a uniform way between the certificate, savings, and money market accounts offered at various institutions. It tells you at what percentage your money will grow in one year at the same dividend rate – including the effects of compounding. For example, the APY on a 6-Month Certificate would be what you earned at the end of a year if you renewed your certificate once, did not add to or subtract from the balance along the way, nor withdrew any dividends.

Please refer to Features and Details tabs for more information.

Member Described Account is rated 4.8 out of 5 by 328.
Rated 5 out of 5 by from Savings has added value and helps to enhance and support savings at every level. I categorize DCU products as wonderful and personalized to an individual needs. You can assure their full support to secure your asset with them and make you a confident clientele. I only having one struggle which I think can be improve is providing an account which has experience a default on overdraft the ability to not be subjected or restricted from overdraft protection. Otherwise, they are recommendable to every and anyone who desire a personalize and secure banking experience.
Date published: 2019-03-16
Rated 5 out of 5 by from Great game Absolutely love it. Awesome benefits for business. Step by step guidance only for member plus non member as well
Date published: 2019-03-05
Rated 5 out of 5 by from Delighted with DCU My experience with DCU has been excellent! I feel secure and safe usng DCU for my banking needs, and appreciate the willingness of personnel to assist me to resolve any issue that may occur.
Date published: 2019-02-23
Rated 5 out of 5 by from Amazing customer service My account was set up entirely through email exchange with Alan E. He was prompt and professional. I’m very satisfied with my new bank. DCU is awesome! Highly recommend them.
Date published: 2019-02-23
Rated 5 out of 5 by from This product is great and with just a call they help you with anything you need . I love have a app where I can do everything at home and don’t have to go to the bank every time I want to transfer money send money to my family and friends ex.. they help a lot
Date published: 2019-02-23
Rated 5 out of 5 by from Easy as 1-2-3! I added a member described account so I could put monies earned this year aside for next year's taxes. DCU made it very easy for me to do that. The only thing I needed Member Services for was to rename the account for me which was just a quick call.
Date published: 2019-02-16
Rated 5 out of 5 by from Great service Outstanding banking experience. From products offered to customer service!!!
Date published: 2019-02-04
Rated 5 out of 5 by from Friendly Friendly and helpful as well as knowledgeable both the tellers and desk peopl
Date published: 2019-02-02
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Member described savings

How can I change the name of my member described savings account?
Asked by: Mary
Login, open the Account Manager either from the top green house area, or just from the menu choice. Once in there, look for Account Information Once you see all your accounts listed, there will be a little pencil icon which puts you into edit mode. If you have trouble, login then open the Live Chat to ask for help. Usually the wait time is tolerable.
Answered by: Clover
Date published: 2017-12-23

How to delete or close a member described account ?

Asked by: SS
dont know go to customer service
Answered by: skikg
Date published: 2018-07-14

can i set-up direct deposit to member described account?

i am told by th some reps that direct deposit cannot be set-up for these accounts.
Asked by: memberSinceLong
I believe that you can deposit in any of the check/savings accounts
Answered by: Arthur
Date published: 2018-04-28

Will I get a separate ATM card if I open a new Member described account? If not, how do I request for one?

Asked by: Ann
No. Your member described account is not a whole new account. It's just a new savings account all under the same member number. You don't need a new ATM card; you should still be able to access the account with the existing ATM card.
Answered by: Boscoseven
Date published: 2014-04-19

Are there monthly fees on a member described account, if a certain balance isn't maintained?

Asked by: Autumn
Answered by: Joel
Date published: 2018-11-03
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"Simple, fast and easy"

Open quote Opening an account was so easy and it took almost no time at all. Keeping track of my account is simple with online access as well as with the nearby branches and ATMs. Close quote

— KP09, Leominster, MA

Easy Ways To Open a Member Described Account

  1. Open Online – Opening a DCU Member Described Account is fast and convenient! Follow the simple step-by-step instructions and open your account in minutes online.
  2. By Phone – Call 800.328.8797 or 508.263.6700, (select 3).
  3. Visit a DCU Branch – Visit a local branch and open a DCU Member Described account. A Member Service Representative will assist you and be able to answer all your questions.

"I'm loving my savings account!"

Open quote Easy to open, friendly service. I'm happy I made the switch to DCU. Close quote

— MOMOF2BOYZ, Bedford, NH

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